Florida has always had the reputation of being a low tax state. While this common perception is borne out by the newest available data contained in this report, the full picture is more complicated. This report provides detailed tax ranking information for Florida as compared to the rest of the nation.
Monday, April 20 Florida TaxWatch celebrates Florida Taxpayer Independence Day 2015: the day Floridians are finally earning money for themselves and not for the tax collector. This symbolic date assumes that every dollar earned since January 1 goes to pay federal, state, and local tax obligations. In 2015, for the average Florida household, paying its taxes takes 110 out of 365 days, or more than three and a half months.
As Florida House and Senate leaders prepare to negotiate the differences in their budget proposals passed last week, one potential sticking point will be tax cut packages. The latest Florida TaxWatch Budget Watch outlines the tax cut options thus far.
Easing the tax burden for Florida families and businesses would also attract business investment, create Florida jobs and grow the state's information-based economy, according to this report, which highlights the state's Communications Services Tax, the fourth highest in the nation.
According to this Budget Watch, lawmakers are expected to have $30.6 billion in General Revenue, plus unspent reserves, to create a state budget in 2015. An historic $30.6 billion budget would be $2.2 billion more than the current spending plan, an increase of 7.9 percent.
The Center for Government Efficiency defines government efficiency as the intersection of cost avoidance, targeted investments and effective governance, three characteristics that define the recommendations included in this year's report, which could save Florida taxpayers billions of dollars.
In this report, TaxWatch examines a proposal facing the Palm Beach County Commission to allow out-of-county waste haulers to utilize their new renewable energy facility. TaxWatch was asked to examine the proposal by two County Commissioners
Florida retailers are expected to exceed 2013 holiday sales this year, according to this report; however, increased consumer spending may not benefit Florida retailers like it should due to a tax loophole.
Floridians have another reason to be thankful this holiday season: Florida is not one of the 14 states in the nation that tax groceries. While most food that Florida residents prepare themselves for a Thanksgiving feast is exempt, some of the items on dinner tables may be subject to the state's sales tax, ranging from six to 7.5 percent.
Florida, home to more than 1.6 million veterans, has provided a number of tax and related benefits to veterans and their families, in an effort to become the most veteran-friendly state in the nation. To celebrate Veterans Day, Florida TaxWatch compiled a list of Florida's veteran-friendly policies.
This quick look at taxes on candy and other treats in Florida includes a look at how Florida compares to the rest of the US.
Florida lawmakers are expected to have a small budget surplus when they come to Tallahassee in 2015. State economists have predicted that funding a continuation budget next year will leave $336.2 million in available General Revenue funds. This is the fourth surplus in four years, despite being less than half of the surplus in fiscal year 2013-14.
Florida's latest cycle of revenue and expenditure estimating conferences show that Florida is still in a healthy post-recession recovery; however, the conferences have resulted in forecasts with slightly tempered expectations. Generally, projections of revenues were reduced from the previous estimates, even though the funds are expected to continue to grow year over year.
This infographic shows job growth in Florida over the past year.
On the precipice of college football kickoff, this report highlights the economic benefits of Florida's seven Division I NCAA football teams, and explains how football programs increase revenue for schools and the state as a whole.
When the 2015 Legislature convenes in Tallahassee, it is expected to have nearly $30 billion in General Revenue to create the state budget for FY 2015-16. However, after this month's GR Estimating Conference, the new General Revenue projection is $141.6 million less than previously thought.
From August 1-3, Floridians will save nearly $40 million in taxes while they shop tax-free for back-to-school supplies. Florida families can purchase clothing, school supplies, and even computers up to $750 tax-free. This infographic shows the estimated savings for taxpayers over the history of this annual tax holiday.
All the bills passed by the 2014 Legislature have now been evaluated by the state's revenue estimators, resulting in a revenue reduction of more than $550 in the current fiscal year. Local revenues will be reduced by $41.5 million and $37.0 million. Despite the declining revenue estimates, the reduction still leaves $1.65 billion in general revenue reserves for the fiscal year, according to the July Budget Watch.
This years Budget Turkey Report finds $120 million in projects slipped into the budget without a full and transparent review.
The 2014 Session has come to a close, and this Florida TaxWatch report details all of the issues that we followed this year.
Florida taxpayers have a reason to celebrate on Tuesday, April 22nd. The date marks Taxpayer Independence Day as estimated by Florida TaxWatch. April 22nd, 2014, is the first day in the calendar year that Florida taxpayers, on average, will begin earning income that does not go toward federal, state and local taxes.
This BudgetWatch report compares the FY2014-15 House and Senate budgets in each spending area, and shows the change versus the current fiscal year.
Florida TaxWatch commends the Legislature for passing and Governor Scott for signing the first tax relief bill of the 2014 Legislative Session to reduce vehicle registration fees for all Floridians. This good bill will put up to $25 back in the pockets of each Florida driver and is a great way to make sure all Floridians benefit from broad tax relief. As a part of Governor Scotts "Its Your Money Tax Cut" that has been wisely embraced by the Legislature, reducing these vehicle registration fees will save Floridians $394.5 million annually.
The competing House and Senate tax cut proposals have many differences that need to be worked out, but there are beneficial provisions in both plans, according to this report, which compares the three proposals suggested by the Florida House, Senate and Governor Rick Scott to provide $500 million in tax cuts during the 2014 Legislative Session.
Since voters approved a 2002 Constitutional Amendment to reduce class sizes, taxpayers have spent more than $27 billion (including capital facilties and operating costs) to comply with the law, despite research that shows smaller class sizes do not result in higher achievement levels for students in grades 4-12. According to this report, changing the calculations for determining class size restrictions would better serve students and could save taxpayers $10 billion over ten years.